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WazirX vs CoinDCX vs Bitbns — Who has the Lowest Fees?
There are various crypto trading exchanges available in India. So today, we will compare India’s 3 best crypto trading exchanges, i.e., WazirX, CoinDCX, and Bitbns.
WazirX is among India’s top crypto exchanges and provides one of the most secure services. The exchange has its token known as WRX, which is based on the Binance chain. There are multiple benefits of using WRX on WazirX, such as getting a discount on the trading fee.
To learn more read our WazirX review. If you wish to invest in bitcoin, you can read our guide on How to buy bitcoin at WazirX?
To learn more read our CoinDCX review. You can also refer to our guide on How to buy Shiba Inu at CoinDCX?.
To learn more read our Bitbns review. You can also refer to our guide on How to buy Shiba Inu at Bitbns?
If you’re a beginner and wish to learn where to begin your trading journey, we have you covered. Refer to our guide to invest in cryptocurrency to learn everything you need to know before trading.
As a crypto trader, you need to understand all the trading options available on any platform. So here we are going to cover everything on all three platforms.
You might not realize, but the trading fees play a crucial role in crypto trading. You must do your research and search for a platform with a minimal trading fee; as we know that, if you win a trade, then you get less than what you win, and if you lose a trade, you lose more than your actual loss.
Apart from this, on deposits through bank transfer, INR 6.7 is charged as a transaction fee. No fees are applicable while making deposits through UPI. However, deposit through Mobikwik has around 2% deposit fees. Also, 25% of your profits through STF goes to the skilled trader.
The platform does not charge any deposit fees. However, a withdrawal fee is applicable on all transactions. For detailed information on Bitbns fees, you can refer to Bitbns fee structure.
Mobile phones are an integral part of our life and play an essential role in crypto trading. You can trade, transfer funds, analyze the market, and do everything using a mobile app.
CoinDCX mobile application known as CoinDCX Go is only available for android users. The app allows you to buy crypto assets instantly by linking your bank account. However, there is a monthly INR deposit limit on an account without KYC verification. The CoinDCX Go mobile app often hangs and does not respond to slow internet speeds.
WazirX app beats the CoinDCX and Bitbns as it offers a simple UI and works in all types of market conditions. Whereas the other two experience heavy loads on extreme market conditions.
To learn more read our guide on the best Bitcoin app in India.
User Interface plays a vital role in determining your interaction with the website. The simpler the UI, the easier it is for you to trade on the exchange.
All three exchanges have a simple and straightforward user interface. However, the UI of WazirX is simpler and easier to use than the other two platforms.
The platform asks you to create a new withdrawal password every 30 days, and the password only gets enabled 24 hours after the change. This enhances the security of the platform.
Customer support is an integral part of customer satisfaction on any crypto trading platform. If the customer support is neglective, then you as a user have to face many troubles.
You can reach out to the WazirX support team by writing a request, and do not forget to attach the necessary documents with it. The team from WazirX might reach you through email as soon as possible.
CoinDCX offers 24 hours support through email. However, telegram channel and chat support timings are from 6.00 AM to 11.00 PM.
Similarly, like the other two platforms, you can reach out to Bitbns support through Telegram, Instagram, Facebook, etc. Alternatively, you can also submit your queries/ issues by submitting a ticket.
You can reach out to Bitbns through their telegram channel and also follow up on their announcements.
You can also reach out through the Bitbns Twitter account by tagging them or messaging them personally.
WazirX, CoinDCX, and Bitbns are among the top 3 crypto exchanges in India. In contrast, WazirX best suits beginners; however, it charges high trading fees. On the other hand, CoinDCX has some of the lowest trading charges to be an option for you. Talking about Bitbns, it charges the highest trading fees in the market and provides an attractive but disoriented user interface.
How do I process CoinDCX INR withdrawal?
First of all, you’ll have to login into your CoinDCX account. Then head over to the funds section from the bottom navigation bar on the DCXgo mobile app and click on the INR Wallet. Enter the amount you wish to withdraw, and go through the verification process to transfer the amount.
How long would it take to withdraw cryptocurrencies from Bitbns?
The withdrawal time of cryptocurrencies depends on the particular crypto asset and the amount of asset you are withdrawing. For example, bitcoin requires four-block confirmation for a successful transfer. It might take a few minutes to a couple of hours for your funds to reflect in your receiving account.
Is trading on WazirX risk-free?
WazirX is a crypto exchange platform and takes all the necessary precautions to safeguard your funds. However, you must realize that every type of investment is subject to market risk, especially crypto assets, as cryptocurrencies are highly volatile. And hence, no investment is market risk-free.
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Originally published at https://blog.coincodecap.com on June 7, 2021.
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